Please enable JavaScript.
Coggle requires JavaScript to display documents.
PRICING ((FARE – for use of air, road, railway or taxi services, RENT –…
PRICING
FARE – for use of air, road, railway or taxi services
-
-
-
-
Marketers need to set the right price, so that total revenue is as large as possible relative to total cost.
-
-
-
STATUS QUO PRICING
-
-
-
It is a pricing objective that help firms maintain existing prices or meets the competition’s prices.
When firms compete within an established price leader, they are safe if they follow the leader’s price.
-
-
Price represents the exchange value of a product or a service.
The higher the buyer perceives the value of the product, the more they are willing to pay for it.
Lamb 2003, price is that which is given up in an exchange to acquire a good or a service.
Kotler 1996, pricing as the process of determining the value of a product or service to consumers at a particular time in quantitative terms of dollars and cents
-
Satisfactory Profit: means a marketer set a price that give them reasonable level of profits. It must be satisfactory and agreeable to the stockholders and management.